Fuel Fix

A gas pipe ejects a flame at a gas deposit, known as Kashi in Japan and Tianwaitian in China, that sits near a median line in the countries' overlapping exclusive economic zones in the East China Sea on Thursday, Feb. 9, 2012. China rejected Japanese protests over alleged improper exploration of the gas deposits on Feb. 3, 2012 as the Foreign Ministry said the recent activity had taken place within Chinese-controlled waters and was completely normal. (AP Photo/Kyodo News)

China, Philippines argue over planned oil search

The Philippines said today it has the right to invite foreign companies to explore for oil and gas in waters located between its western coast and the South China Sea, dismissing China’s claim to the area in a fresh spat between the Asian neighbors.  More »
(AP Photo/Franklin Reyes)

Spain’s Repsol says Q4 profit down on Libya

Spain’s Repsol energy company said today its fourth quarter profits fell 29 percent largely due to reduced production because of the Libya war.  More »
(Photo: Vectorportal/Flickr)

Drilling rig manager charged with lying about blowout tests

Donald Hudson, who was a manager at Helmerich & Payne Inc. (HP), was charged with lying to a federal agent reviewing blowout prevention testing and records of drilling rigs in the Gulf of Mexico.  More »
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Secretary of State Hillary Rodham Clinton. (AP Photo/Jacquelyn Martin)

Clinton wants tough SEC oil, gas disclosure rules

Secretary of State Hillary Clinton on Tuesday called on the Securities and Exchange Commission to “go as far as possible” with rules requiring certain oil, gas and mining companies to disclose their payments to host nations.  More »
(Photo: Rowan Cos.)

Rowan plans to move headquarters to U.K.

Rowan Companies Inc., the offshore- drilling contractor that shed $1.6 billion of its business units last year, fell the most in more than three months after announcing plans to move its legal headquarters to the United Kingdom.  More »
Sunoco's Philadelphia refinery is on the banks of the Schuylkill River. The company plans to pull out of the refining business altogether, which could help put the Northeast region in a precarious position. Photo: MIKE MERGEN / HC

Refinery closure would send gasoline prices even higher, EIA says

The federal Energy Information Administration said the closure of several refineries that supply fuel the Northeast could cause a shortage and more volatile gasoline prices.  More »
Sen. Kay Bailey Hutchison, R-Texas (AP file photo/Charles Dharapak)

GOP uses Keystone XL as rallying cry in gas price debate

Republicans such as Texas Sen. Kay Bailey Hutchison continued blaming President Obama for rising gasoline prices, seeking to suggest the administration’s rejection of a permit for the Keystone XL oil pipeline would worsen the problem.  More »
The Deepwater Horizon oil rig burns off the coast of Louisiana on April 21, 2010.  (AP file photo/Gerald Herbert)

AG says govt prepared for trial in Gulf spill

Attorney General Eric Holder has told Congress that the Justice Department is prepared to go to trial against companies involved in the Gulf oil spill if ongoing negotiations do not result in a settlement.  More »
Oil from the Deepwater Horizon spill is seen floating on the surface of the water in Bay Jimmy, near where oil was spotted in June 2011. (AP Photo/Gerald Herbert, File)

Possible BP deal could tap $14 billion in fund

A settlement being discussed between BP and attorneys for hundreds of businesses and others suing over the Deepwater Horizon disaster could tap billions of dollars remaining in a claims fund set up after the accident.  More »
Commercial fishermen from St. Bernard Parish, La., hired by BP lay oil retention booms around New Harbor Island in the Gulf of Mexico in 2010. (AP Photo/Dave Martin)

BP investors see spill deal narrowing $44 billion gap

BP Plc (BP/) investors said progress toward a settlement with the victims of the Deepwater Horizon disaster signals a share-price rebound, closing the $44 billion gap with the company’s value before the worst U.S. oil spill.  More »
Some Ohioans are asking for a ban on fracking for Natural Gas until the Environmental Protection Agency completes its study. (Photo: Ty Wright/Bloomberg)

Ohio fracking foes push water safety, Republicans tout jobs

House Republicans went to eastern Ohio touting hydraulic fracturing to add U.S. jobs and cut fuel costs. Instead, lawmakers met skeptical residents, highlighting the divide over environmental concerns about fracking.  More »
Kimberlie McEvoy collects discolored well water as it comes from her kitchen sink at her home in Evans City, Pa. McEvoy and other residents say the water problems started about a year ago, after Rex Energy Corp. drilled two wells. At least two gas wells near her community developed casing problems during the drilling process, but neither Rex Energy Corp. nor state environmental regulators disclosed those problems during recent discussions about the contamination. (AP Photo/Keith Srakocic, File)

W. Pa. wells had casing failures in complaint area

At least two gas wells near a community that’s complained of sudden drinking water pollution developed casing problems during the drilling process, but neither Rex Energy Corp. nor state environmental regulators disclosed those problems during recent discussions about the contamination.  More »
A large sign is seen in the front Sunoco'S Eagle Point refinery in National Park, N.J. (AP Photo/Mel Evans)

Report: Closing Pa. refinery could spike gas costs

Federal energy officials say the potential closure of a Philadelphia refinery could lead to gas price spikes in some parts of the northeastern United States.  More »
The Trans-Alaska pipeline (Photo: BP)

Key Alaska Dems open to talk oil tax progressivity

A pair of Alaska lawmakers who have been among the staunchest defenders of the state’s oil tax structure say they are open to addressing the issue of “progressivity,” the much-debated system that generates revenue for the state budget and criticism from production companies.  More »
A Mountain Ridge Drilling rig of Daugherty Petroleum -- which works 24 hours a day, seven days a week -- is pictured 26 October 2005 in the Appalachian Mountains of eastern Kentucky.  Most of the 900 or so wells drilled in Kentucky this year won't produce more than a barrel or two of oil a day, but with prices topping USD 60 a barrel, those little wells are pulling in big profits, especially when they also pump natural gas.   AFP PHOTO/JEFF HAYNES  (Photo: JEFF HAYNES/AFP/Getty Images)

Gas driller: Pipe leak worse than first thought

A natural gas driller says a leaking pipe at a southwestern Pennsylvania well site contaminated more soil than initially thought.  More »